If you’re a growth investor, then you’re in luck. The Australian share market is home to a large number of quality shares that have the potential to grow their earnings very strongly in the coming years.
And thanks to recent pullbacks in their respective share prices, they are now trading at a discount to what you would have paid just a month ago.
Four top growth shares I would buy right now are listed below:
Afterpay Ltd (ASX: APT)
The first growth share to consider buying is Afterpay. Due to the increasing popularity of the buy now pay later payment method with consumers and merchants and its international expansion plans, I believe Afterpay is well-placed for growth over the next decade. In respect to its expansion, the company is launching into Canada and Europe in FY 2021 and appears to have its eyes on the Asia market as well.
Altium Limited (ASX: ALU)
The next growth share to look at is Altium. Thanks to its key Altium Designer product and its exposure to the rapidly growing Internet of Things and AI markets, I believe Altium can grow its revenue and earnings at a very strong rate over the next few years. Management is aiming to more than double its revenue to US$500 million by FY 2025/26. I believe it is well-placed to achieve this.
Bravura Solutions Ltd (ASX: BVS)
The next growth share to consider is Bravura Solutions. It is a fintech company providing software and services to the wealth management and funds administration industries. Bravura has a growing number of solutions in its portfolio, but the key one for me continues to be the Sonata wealth management platform. It is used by many large financial institutions to connect and engage with their clients anytime, anywhere, via computers, tablets or smartphones. This is especially relevant given the work from home trend.
ResMed Inc. (ASX: RMD)
A final option for investors to consider buying is ResMed. It is a medical device company focused on the growing sleep treatment market. Thanks to its industry-leading mask products, world-class software solutions, and massive addressable market due to the proliferation of sleep apnoea, I expect ResMed to continue its strong growth for many years to come.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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